Evolus (EOLS) AI Stock Analysis

• Market Cap: $406.87M
• Dividend Yield: N/A
• Average Volume (3M): 1.17M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.86
• Revenue Growth: 17.15%
• EPS Growth: -7.23%
• Country: US
• Employees: 372
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.25
• Shares Outstanding: 64,685,420
• 10 Day Avg. Volume: 1,138,796
• 30 Day Avg. Volume: 1,167,209
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.69
• Enterprise Value/Revenue: 2.48
• Enterprise Value/Gross Profit: 3.71
• Enterprise Value/Ebitda: -18.82
• 1Y Price Target: $17.42
• Price Target Upside: 176.95% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 43 Neutral
• Price Target: $7.50 ▲(19.24% Upside)

Evolus faces significant financial challenges, with negative profitability and reliance on external financing weighing heavily on its score. While technical indicators suggest a bearish trend, recent corporate changes and strategic initiatives provide some optimism. However, the immediate outlook remains cautious due to market challenges and revised guidance.

Positive Factors

Successful Product Launch

The successful launch of Evolysse indicates strong market acceptance and potential for future revenue growth, enhancing Evolus' product portfolio.

International Expansion

International expansion into nine markets strengthens Evolus' market position and diversifies revenue streams, supporting long-term growth.

New CFO Appointment

The appointment of an experienced CFO can enhance financial management and strategic execution, crucial for navigating financial challenges and growth.

Negative Factors

Financial Instability

Ongoing financial instability with negative equity and profitability challenges could hinder Evolus' ability to invest in growth and innovation.

Negative Cash Flow

Persistent negative cash flow indicates reliance on external financing, which may limit financial flexibility and increase risk during economic downturns.

Decreased Toxin Demand

Decreased demand for Jeuveau reflects market challenges and could impact revenue growth, necessitating strategic adjustments to maintain competitiveness.

Evolus Business Overview & Revenue Model

Company Description

Evolus, Inc., a performance beauty company, provides medical aesthetic products for physicians and their patients in the United States. It offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults. The company was incorporated in 2012 and is headquartered in Newport Beach, California.

How the Company Makes Money

Evolus generates revenue primarily through the sale of its aesthetic products, with Jeuveau being its main source of income. The company employs a business model that includes direct sales to licensed healthcare professionals and partnerships with aesthetic clinics. Revenue is driven by product sales and the establishment of distribution agreements with various medical aesthetic providers. Additionally, Evolus invests in marketing and promotional campaigns to raise awareness of its products among consumers and practitioners, further enhancing its sales potential. The company's focus on innovation and the expansion of its product portfolio plays a significant role in driving revenue growth and sustaining its competitive edge in the market.

Evolus Financial Statement Overview

Summary

Evolus is experiencing revenue growth but continues to face significant financial challenges, including negative profitability, deficits in equity, and reliance on external financing. The company needs to improve operational efficiency and financial stability to achieve sustainable growth and profitability.

Income Statement

Evolus has shown steady revenue growth with a notable increase in total revenue from $56.54M in 2020 to $275.02M in the TTM period ending March 2025. Despite this, the company continues to operate at a net loss, with consistently negative EBIT and EBITDA margins. The net profit margin remains negative, indicating ongoing profitability challenges.

Balance Sheet

The balance sheet reflects significant financial instability, with negative stockholders' equity in recent periods, indicating potential solvency issues. The debt-to-equity ratio is not meaningful due to negative equity, but the overall liabilities exceed assets, pointing to financial leverage concerns. This highlights a need for improved capitalization and risk management.

Cash Flow

Cash flow from operations is consistently negative, although the company has managed to reduce its cash outflows over time. The free cash flow remains negative, suggesting ongoing challenges in generating cash from operations. The company's reliance on financing activities to manage liquidity is evident.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	277.49M	266.27M	202.09M	148.62M	99.67M	56.54M
Gross Profit	185.18M	182.30M	140.53M	92.73M	56.14M	38.24M
EBITDA	-36.54M	-25.00M	-41.81M	-60.72M	-39.06M	-144.75M
Net Income	-61.99M	-50.42M	-61.69M	-74.41M	-46.81M	-163.01M
Balance Sheet
Total Assets	228.80M	232.57M	189.00M	177.98M	257.48M	209.07M
Cash, Cash Equivalents and Short-Term Investments	61.74M	86.95M	62.84M	53.92M	146.26M	107.56M
Total Debt	154.91M	129.98M	126.55M	73.20M	74.74M	138.32M
Total Liabilities	247.46M	227.05M	209.69M	159.48M	175.61M	282.03M
Stockholders Equity	-18.65M	5.52M	-20.69M	18.50M	-422.88M	-376.07M
Cash Flow
Free Cash Flow	-17.21M	-19.47M	-35.63M	-11.71M	-34.36M	-61.01M
Operating Cash Flow	-16.55M	-18.00M	-34.01M	-8.77M	-33.39M	-57.87M
Investing Cash Flow	-4.63M	-4.82M	-1.63M	-1.39M	4.03M	12.19M
Financing Cash Flow	-4.36M	47.41M	44.64M	-1.52M	73.05M	38.35M

Evolus Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.29
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EOLS, the sentiment is Negative. The current price of 6.29 is below the 20-day moving average (MA) of 7.25, below the 50-day MA of 7.81, and below the 200-day MA of 10.61, indicating a bearish trend. The MACD of -0.34 indicates Positive momentum. The RSI at 30.39 is Neutral, neither overbought nor oversold. The STOCH value of 3.28 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EOLS.

Evolus Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SIGA	82 Outperform	628.70M	7.65	27.44%	―	3.86%	-2.60%
AVDL	70 Outperform	1.57B	-490.91	-3.22%	―	132.35%	97.34%
COLL	65 Neutral	1.13B	34.51	15.62%	―	22.61%	-63.00%
ORGO	54 Neutral	581.01M	-39.15	-3.04%	―	-4.21%	7.78%
TLRY	50 Neutral	1.35B	-0.52	-198.52%	―	4.10%	-594.06%
EOLS	43 Neutral	$406.87M	―	-9999.00%	―	17.15%	-7.23%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Evolus Corporate Events

Evolus Appoints Tatjana Mitchell as New CFO

On September 8, 2025, Evolus, Inc. announced the appointment of Tatjana Mitchell as its new Chief Financial Officer. With over 20 years of experience in strategic and operational finance, Mitchell is expected to play a crucial role in driving revenue growth and operational excellence as Evolus expands its portfolio and global footprint. Her previous roles include Senior Vice President of Corporate Finance at Experian and CFO at Zulily, where she demonstrated a strong track record in financial management and strategic execution.

Evolus Appoints New Principal Financial Officer

On August 1, 2025, Evolus appointed David Moatazedi as Principal Financial Officer, while continuing his role as President and CEO, without additional compensation. The company also announced the departure of Chief Marketing Officer Tomoko Yamagishi-Dressler, effective August 22, 2025, with severance benefits as per her employment agreement. Evolus reported a 4% increase in Q2 2025 net revenue to $69.4 million, driven by the successful launch of Evolysse™ and international growth, despite a decline in U.S. aesthetic procedures. The company expects to achieve meaningful profitability by Q4 2025 and aims for $700 million in total net revenue by 2028, leveraging its existing infrastructure and new product launches.